• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Thursday 28 August 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
No Result
View All Result

Seaport: Sands China eying dividend resumption in 2025

Ben Blaschke by Ben Blaschke
Mon 26 Aug 2024 at 05:52
Dr Wilfred Wong

The Londoner Macao

27
SHARES
685
VIEWS
Print Friendly, PDF & Email

Macau concessionaire Sands China will most likely resume the payment of dividends in 2025 – a year earlier than many analysts had anticipated – although the scale of such dividends will be dependent on the company’s performance upon completion of The Londoner Macao revamp.

The update was provided by executives of parent company Las Vegas Sands (LVS) at the 2024 Seaport Annual Summer Conference, which saw Seaport Research Partners host LVS and other gaming companies for the benefit of investors.

According to Seaport’s Senior Analyst Vitaly Umansky in an ensuing note, dividends remain high on the company’s priority list, stating, “Hong Kong investors like dividends, so [it] makes sense to restart some dividends at Sands China.”

Sand China is one of three Macau companies yet to resume the payment of dividends post-COVID, alongside Melco Resorts and SJM Resorts – largely because of the company’s significant investment into The Londoner Macao. The Phase 2 revamp has seen both the Sheraton and the old Pacifica casino floor closed for renovations since early in 2Q24 which Sands China previously said materially impacted its Q2 results.

In providing its latest update to investors, LVS said Macau’s Q3 results should be largely in-line with Q2 due to a full quarter of disruption at The Londoner, albeit offset by what it expects to be stronger summer business.

“The Londoner will have 2,500 rooms offline for redevelopment in Q3 compared to ~1,200 in Q2, but the quarter-on-quarter impact on revenues should not be as severe as room reduction implies,” Umansky wrote.

The company expects to reopen the old Pacifica Casino as well as the Sheraton – to be renamed Londoner Grand – by December.

Separately, Sands China told investors during the 2024 Seaport Annual Summer Conference that player reinvestment – a hot topic in Macau in recent months as market competitiveness heats up post-COVID – had been “too high” in Q2 and more specifically that such costs had negated the benefit, according to Umansky.

“Reinvestment is coming down in Q3 (in fact it started coming down in late Q2 compared to earlier in the quarter), and should see further reduction in Q4 – all based on reinvestment as a percentage of mass,” he wrote, adding that base mass revenues continue to disappoint even while premium mass soars.

Sands China is “seeing both lower visitation and lower spend per customer in this segment,” the Seaport analyst explained. “Softness is attributable to China’s economy and constraints on customer income and wealth (middle-class of China). Until the China economy and consumer confidence improves, base mass is not likely to see a stronger recovery.”

Conversely, “The crackdown on the illicit Macau money exchange rings is not having any material impact on revenues. Not many players rely on such liquidity, and alternatives exist.”

RelatedPosts

Sands China celebrates 1.1 billion cumulative visitors to its Macau resorts

Sands China celebrates 1.1 billion cumulative visitors to its Macau resorts

Thu 28 Aug 2025 at 19:09
IAG names Grand Lisboa Palace Resort Macau as venue and SJM Resorts S.A. as Venue Sponsor for 2025 Power 50 Black Tie Gala Dinner

SJM reports widened 1H25 loss despite GGR growing almost 12% to US$1.90 billion

Thu 28 Aug 2025 at 18:54
Capital Punishment

SJM to relocate satellite casino gaming tables, slot machines to Macau’s famous Hotel Lisboa as part of US$68 million deal with parent company STDM

Thu 28 Aug 2025 at 17:35
Asia market roundup

Asia market roundup

Thu 28 Aug 2025 at 12:26
Load More
Tags: DividendsGamingMacauSands ChinaSeaport Research PartnersSheratonThe Londoner MacaoVitaly Umansky
Share11Share2
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

Sands China celebrates 1.1 billion cumulative visitors to its Macau resorts

Sands China celebrates 1.1 billion cumulative visitors to its Macau resorts

by Pierce Chan
Thu 28 Aug 2025 at 19:09

Sands China has now welcomed more than 1.1 billion guests across its Macau integrated resorts, representing a significant milestone in its more than 20-year history operating in Macau, the company stated Thursday. In an announcement that also coincided with the...

IAG names Grand Lisboa Palace Resort Macau as venue and SJM Resorts S.A. as Venue Sponsor for 2025 Power 50 Black Tie Gala Dinner

SJM reports widened 1H25 loss despite GGR growing almost 12% to US$1.90 billion

by Ben Blaschke
Thu 28 Aug 2025 at 18:54

Macau’s SJM Holdings reported a 7.5% year-on-year improvement in gross gaming revenue to HK$14.8 billion (US$1.90 billion) and an 11.8% increase in non-gaming revenue to HK$1.01 billion (US$130 million) in the first six months of 2025, although it wasn’t enough...

Capital Punishment

SJM to relocate satellite casino gaming tables, slot machines to Macau’s famous Hotel Lisboa as part of US$68 million deal with parent company STDM

by Ben Blaschke
Thu 28 Aug 2025 at 17:35

Macau concessionaire SJM Resorts will pay HK$529 million (US$68 million) to its parent company Sociedade de Turismo e Diversões de Macau, S.A. (STDM) to acquire 7,504 square meters of floor space at Hotel Lisboa for the relocation of gaming tables...

Tecnet Asia aids Asian debut of APEX Gaming’s Clover Link at Solaire Resort Entertainment City

Tecnet Asia aids Asian debut of APEX Gaming’s Clover Link at Solaire Resort Entertainment City

by Newsdesk
Thu 28 Aug 2025 at 13:15

APEX Gaming’s Clover Link series has made its Asian debut following installation of Clover Link Extreme at Manila’s Solaire Resort Entertainment City. Tecnet Asia, the official distributor of APEX Gaming in the region, said Clover Link Extreme – renowned for...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English